Gogo (NASDAQ:GOGO) Shares Down 3.3% – Time to Sell?

Gogo Inc. (NASDAQ:GOGO) fell 3.3% during mid-day trading on Monday . The stock traded as low as $7.91 and last traded at $7.97. 73,986 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 526,520 shares. The stock had previously closed at $8.24.

Analyst Ratings Changes

Separately, Roth Mkm restated a “buy” rating and set a $15.50 price objective on shares of Gogo in a research report on Tuesday, September 17th.

Gogo Price Performance

The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The firm’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $7.92. The stock has a market capitalization of $955.92 million, a PE ratio of 17.67 and a beta of 1.15.

Institutional Investors Weigh In On Gogo

A number of hedge funds have recently bought and sold shares of GOGO. FMR LLC grew its position in shares of Gogo by 13.5% in the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after buying an additional 673,315 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Gogo by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock worth $29,901,000 after acquiring an additional 43,805 shares in the last quarter. Capco Asset Management LLC increased its holdings in Gogo by 1.7% in the 2nd quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock worth $23,857,000 after acquiring an additional 41,866 shares in the last quarter. State Street Corp grew its holdings in shares of Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the period. Finally, William Blair Investment Management LLC lifted its position in Gogo by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after buying an additional 152,338 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Gogo

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.